Fitch Affirms 10 Classes from 2 Master Financial Asset Securitization Trust Transactions.Business Editors NEW YORK--(BUSINESS WIRE)--June 19, 2003 Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. the following Master Financial Asset Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. Trust transactions: Master Financial, series 1998-1: -- Class A-6 'AAA'; -- Class M-1 'AA+'; -- Class M-2 'A+'; -- Class B-1 'BBB'; -- Class B-2 'BB'. Master Financial, series 1998-2: -- Class A-4 'AAA'; -- Class M-1 'AA'; -- Class M-2 'A'; -- Class B-1 'BBB'; -- Class B-2 'BB'. The affirmations reflect credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing consistent with future loss expectations. Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'. |
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